Report
Rapid Response Economics
The Great Trade Hack: How Trump's trade war fails and the world moves on
The Great Trade Hack by Richard Baldwin explains how Trump’s 2025 tariff blitz wasn’t economic strategy. It was grievance politics. Tariffs, Baldwin shows, are political placebos that won’t fix the U.S. economy but could fracture the global trade system. Blending sharp analysis with policy insight, he maps out three futures for world trade and urges global leaders to defend the rules by following them. The system can survive even thrive if world leaders step up.
Publication file
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Citation
Baldwin, R (2025), ‘The Great Trade Hack: How Trump's trade war fails and the world moves on‘, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/great-trade-hack-how-trumps-trade-war-fails-and-world-moves